IDEX Co. (NYSE:IEX) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its holdings in shares of IDEX Co. (NYSE:IEX) by 47.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,324 shares of the industrial products company’s stock after selling 41,296 shares during the period. Duff & Phelps Investment Management Co.’s holdings in IDEX were worth $9,722,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Catalyst Capital Advisors LLC boosted its stake in shares of IDEX by 73.8% in the third quarter. Catalyst Capital Advisors LLC now owns 139 shares of the industrial products company’s stock valued at $30,000 after buying an additional 59 shares in the last quarter. Assetmark Inc. purchased a new stake in shares of IDEX during the 3rd quarter worth $39,000. EdgeRock Capital LLC acquired a new position in shares of IDEX during the 2nd quarter worth $41,000. Whittier Trust Co. increased its holdings in shares of IDEX by 38.4% in the 2nd quarter. Whittier Trust Co. now owns 209 shares of the industrial products company’s stock valued at $42,000 after purchasing an additional 58 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of IDEX by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 200 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 100 shares during the period. 97.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

IEX has been the topic of several recent analyst reports. Royal Bank of Canada upped their target price on shares of IDEX from $248.00 to $258.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird lowered their price target on IDEX from $245.00 to $241.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Argus cut IDEX from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on IDEX from $232.00 to $244.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.57.

IDEX Stock Performance

IDEX stock opened at $229.71 on Monday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.11 and a current ratio of 2.97. IDEX Co. has a fifty-two week low of $189.51 and a fifty-two week high of $246.36. The stock has a fifty day moving average of $219.43 and a two-hundred day moving average of $208.38. The company has a market capitalization of $17.39 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.43 and a beta of 0.96.

IDEX (NYSE:IEX) last released its earnings results on Tuesday, October 29th. The industrial products company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.01. The company had revenue of $798.20 million for the quarter, compared to analyst estimates of $793.05 million. IDEX had a net margin of 15.35% and a return on equity of 15.92%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.12 EPS. On average, analysts anticipate that IDEX Co. will post 7.89 EPS for the current fiscal year.

IDEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $0.69 dividend. The ex-dividend date is Friday, January 17th. This represents a $2.76 annualized dividend and a yield of 1.20%. IDEX’s dividend payout ratio (DPR) is presently 42.72%.

IDEX Company Profile

IDEX Corporation, together with its subsidiaries, provides applied solutions worldwide. The company operates through three segments: Fluid & Metering Technologies (FMT), Health & Science Technologies (HST), and Fire & Safety/Diversified Products (FSDP). The FMT segment designs, produces, and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors, and other fluid-handling pump modules and systems, as well as flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural, and energy industries.